1 Superior Cryptocurrency to Buy Before It Soars 2,860%, According to Cathie Wood’s Ark Invest

Bitcoin (CRYPTO: BTC) hit an important milestone in February, surpassing $50,000 for the first time since December 2021. The cryptocurrency has gained 120% over the past year as economic optimism led to a rotation into risk assets. More recently, the approval of spot Bitcoin exchange-traded funds has also contributed to its price appreciation.

However, Cathie Wood’s Ark Invest sees Bitcoin moving much higher. Ark analysts have proposed a bull-case price target of $1.48 million by 2030, implying 2,860% upside from its current price. Should that estimate prove accurate, $10,000 invested in Bitcoin today would be worth about $296,000 by the end of the decade.

Here’s what investors should know about this cryptocurrency.

Bitcoin has produced superior returns compared to other asset classes

Bitcoin has been a phenomenal investment over the last five years. In fact, investors would have been hard-pressed to find a better place to put their money. The cryptocurrency returned 1,140% between January 2019 and January 2024, compounding at 65% annually.

That monster growth easily tops other major asset classes. During the same five-year period, commodities returned 5.4% annually, emerging market equities returned 1.4% annually, the S&P 500 returned 14.3% annually, U.S. fixed income returned 0.8% annually, and high-yield corporate bonds returned 4.4% annually, according to Morgan Stanley.

Better yet, Bitcoin also outperformed those asset classes in four of the last five years, meaning its robust returns were not driven by one exceptionally good year.

Data source: YCharts, Dow Jones Commodity Index, Dow Jones Emerging Markets Index, S&P U.S. Aggregate Bond Index, and S&P U.S. High-Yield Corporate Bond Index. All percentages have been rounded to the nearest whole…